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    Reference: 20020376
    Release date: 1 October 2003

    Promoter – Financial Intermediary

    First Quantum Minerals Ltd.
    Head Office:450-800 West Pender Street
    Vancouver, British Columbia
    Canada V6C 2V6

    Borrowers: Kansanshi Mining Plc (for the mining project), and First Quantum Minerals Zambia (for the power line facility)

    Location

    Description

    Development of a new open pit Copper Mine and construction of a Power Line to supply the Mine

    Objectives

    Development of a new open pit copper mine in North-Western Zambia for the production of 60,000 t/y of copper cathodes and up to 70,000 t/y of copper concentrates for an initial lifetime of 16 years and the construction of a power line to supply the mine

    Comments

    Mining and Power

    Sector(s)

    Proposed EIB finance (Approximate amount)

    Up to EUR 50 million

    Environmental aspects

    The project complies with the Bank’s environmental principle of minimisation of negative environmental impacts, and is deemed environmentally acceptable.

    Procurement

    The procurement procedures applied are in the best interest of the project and will be with regard to the contracts financed by the Bank in accordance with EIB’s rules for funds from the Investment Facility.

    Status

    Approved - 11/12/2003

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Zambia Industry